The Chicago Bulls signed first-round draft pick Doug McDermott to a contract on Tuesday.

"We're very excited about the addition of Doug," Bulls general manager Gar Forman said in a statement. "We love the versatility of his game and his ability to shoot. He's a fit for our team and organization on many different levels."

McDermott, drafted by the Denver Nuggets with the 11th pick in last month's draft and then traded for two picks to the Bulls, was a first-team pick for the summer league all-star team along with second-year swingman Tony Snell. McDermott averaged 18 points a game and shot 44 percent from three-point range in Vegas.